The official blog of the Frisco Mortgage Guy! Everything you need to know about home loans: why mortgage rates move, how the bond market effects rates, how a good FICO credit score can help you get the lowest mortgage rate and more!

What did the Fed Say?

Last Wednesday, the Federal Reserve (a.k.a. #TheFED), met to discuss the economy. Based upon their minutes, overall the Fed believes that the improving economy warrants a rate increase. The question is still “when” will the increase occur? Historically, this Fed has been slow to raise rates so while there is a chance that they will increase rates in mid-March it’s more likely we will see a June rate increase. Rates have stayed historically low, but just a tad more than what we had seen over the last several years. Meanwhile, for the third week in a row the major stock indexes hit new all-time highs and the labor market strengthened slightly in the face of a slight increase in jobless claims. Overall, positive economic news.

Geoffrey Davis – Mortgage Loan Consultant

NMLS #206192First United Bank & Trust

D: 214-529-9622

F: 855-239-6079
6401 S. Custer Rd.

McKinney, TX 75070

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This entry was posted on Tuesday, February 28th, 2017 at 9:34 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed.
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